The Nifty 50 index staged a strong recovery from intra-day lows on Tuesday, gaining for a second consecutive session led largely by a rally in the financial sector, particularly the public sector banks.Pune Investment
The index ended the session up 128 points at 24,467. The Sensex rose by 364 points to reach 80,369.
The Nifty PSU Bank index gained over 3% for the second consecutive day, with (SBI) jumping more than 5%. The midcap index surged 514 points to 56,251, and the Nifty Bank climbed 1,061 points to 52,321.
Metal stocks rebounded on reports that China is considering approving next week the issuance of over 10 trillion yuan ($1.4 trillion) in extra debt in the next few years to revive its fragile economy.
Canara Bank closed nearly 3% higher as its profit jumped 11.3% year-on-year riding on the improvement in its asset quality.
Adani Group stocks, including Adani Enterprises and Adani Ports, rose up to 3% following strong Q2 results.
India❼largest manufacturer of passenger cars, Maruti Suzuki, fell 4.2% after the company❼September quarter results missed expectations on the net profit and margin front. Other automakers also faced selling pressure, with Tata Motors emerging as the top loser on the Nifty.
Bharti Airtel ended in the red, down 1.3%, but showed signs of recovery after comments from MD Gopal Vittal. Vittal will step down from his role as MD and CEO, effective January 1, 2026. As part of the transition, Vittal will assume additional responsibilities as Vice Chairman.Varanasi Stock
Cipla fell 1.6%, facing pressure despite in-line results. The pharma company❼US sales met analyst expectations, and it reported a 15% year-on-year jump in net profit at ₹1,303 crore, which was higher than CNBC-TV18❼poll of ₹1,250 crore.
The market favoured advances, with an advance-decline ratio of 2:1.
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